According to a new study from Pike Research, in less than a decade the United States will be the global leader in producing geothermal energy.

The report predicts that by 2020 America's geothermal output will reach 4.2 gigawatts, which marks a 36 percent increase compared to 2010. In comparison, the Asia Pacific region is expected to produce around 5.9 GW during the same time frame.

If these numbers prove true, the United States will account for 30 percent of the worldwide production of geothermal power. However, the research firm believes that there is potential for other markets to grow significantly, as well.

"Currently the vast majority of capacity is concentrated in just seven countries," Pike senior analyst Mackinnon Lawrence said, "but additional support from global financial markets and enhanced regional cooperation by institutions such as the World Bank and ARGeo, in Africa, will drive the development of new capacity in promising markets such as Kenya, Indonesia, and Turkey."